Budget size may be Tk 6 lakh 1511 crore

The budget for the next 2021-2022 fiscal year has already finalized considering the coronavirus as a major challenge.

The upcoming budget has been estimated at Tk 6 lakh one thousand 511 crore. Tk 32 lakh, one thousand and 511 crore is higher from the current budget. The upcoming budget size may be TK 6 lakh 1511 crore.

The size of the budget for the current financial year is Tk 5 lakh 68 thousand crore.

A virtual meeting of the Budget Management and Resources Committee was held on Sunday (April 25) under the chairmanship of Finance Minister AHM Mustafa Kamal.

The meeting was attended by members of the committee and those involved in budget formulation, sources in the Finance Division said.

At the meeting, Senior Secretary of the Finance Division Abdur Rauf Talukder highlighted the overall state of the economy, implementation of the budget for the current fiscal year 2020-2021 and various aspects of the budget for the new fiscal year.

It is learnt that a deficit of Tk 2,12,433 crore has been estimated in the budget for the next financial year. As part of the GDP, the deficit has been estimated 6.1 percent, this year the budget deficit has been estimated 5.8 percent. In the next financial year, the size of GDP has been estimated at Tk 34 lakh 82 thousand 500 crore.

According to sources, the current year's GDP growth has slowed to less than two per cent due to the coronavirus. When the budget for the current fiscal year 2020-2021 was announced in June last year, the GDP growth was estimated at 8.2 percent. After the start of the second wave of coronavirus, it is thought that this growth will not be possible. Therefore, at the Sunday meeting, the growth rate has been set at 6.1 percent, which is 2.1 percent less than the GDP growth projected in the budget. In the next financial year, the growth rate of gross domestic product or GDP has been estimated at 7.2 percent.